JonesTrading reaffirmed their buy rating on shares of BrightSpire Capital (NYSE:BRSP – Free Report) in a research note released on Wednesday morning,Benzinga reports. They currently have a $6.50 price objective on the stock.
Several other equities analysts also recently weighed in on BRSP. BTIG Research upgraded shares of BrightSpire Capital from a “neutral” rating to a “buy” rating and set a $7.00 target price for the company in a report on Wednesday, April 22nd. Weiss Ratings downgraded shares of BrightSpire Capital from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, May 26th. Four research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $6.50.
Read Our Latest Report on BRSP
BrightSpire Capital Stock Performance
BrightSpire Capital (NYSE:BRSP – Get Free Report) last posted its earnings results on Tuesday, July 28th. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.02). The firm had revenue of $48.70 million for the quarter, compared to analysts’ expectations of $64.31 million. BrightSpire Capital had a positive return on equity of 7.01% and a negative net margin of 20.43%. Sell-side analysts expect that BrightSpire Capital will post 0.51 EPS for the current fiscal year.
BrightSpire Capital Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 12.8%. The ex-dividend date was Tuesday, June 30th. BrightSpire Capital’s dividend payout ratio (DPR) is currently -278.26%.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in BRSP. Attessa Capital LLC purchased a new position in shares of BrightSpire Capital during the second quarter valued at approximately $79,000. Axiom Investment Management LLC purchased a new stake in BrightSpire Capital in the 1st quarter worth approximately $33,000. Western Wealth Management LLC purchased a new stake in BrightSpire Capital in the 1st quarter worth approximately $52,000. Bank of America Corp DE raised its holdings in BrightSpire Capital by 3.5% in the 1st quarter. Bank of America Corp DE now owns 217,042 shares of the company’s stock valued at $1,215,000 after acquiring an additional 7,408 shares during the last quarter. Finally, Quantinno Capital Management LP raised its holdings in BrightSpire Capital by 56.8% in the 1st quarter. Quantinno Capital Management LP now owns 121,032 shares of the company’s stock valued at $678,000 after acquiring an additional 43,851 shares during the last quarter. 56.57% of the stock is currently owned by hedge funds and other institutional investors.
BrightSpire Capital Company Profile
BrightSpire Capital Inc (NYSE: BRSP) is a real estate investment trust (REIT) specializing in commercial real estate debt. The company primarily originates, acquires and manages a diversified portfolio of mortgage loans, mezzanine loans and preferred equity investments secured by office, retail, industrial, multifamily and hospitality assets across the United States. By focusing on income-producing credit instruments, BrightSpire seeks to deliver attractive risk-adjusted returns to its shareholders through regular dividend distributions.
BrightSpire’s investment strategy spans the capital structure of commercial real estate, with an emphasis on senior mortgages that offer more stable cash flows and downside protection.
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